EUR/CAD Reached a high of 1.40203 (50% of long tail ) before closing below 1.37600 area (neckline of inverted Head & Shoulder pattern found on the ) - inline with recent analysis where confirmation was required before a short could be placed.
Expect a slight pullback to the upside near weekly 61.8% fib level before prices break lower to the downside for a target of 1.35114 (weekly 76.4% Fib level - support).
1. Long tail
2. Deliberation Pattern (reversal pattern)
3. Pattern ( previous two candles)
4. Price closed below expected target of 1.37600 area (neckline of inverted Head & Shoulder pattern)
1. Price still trading within weekly - support.
Target 1 - 1.35114